Is it possible to use jqueries each loop in this form to dissolve hyperlinks?

 $(document).ready(function() {
    var toExclude =['http://www.google.com', 'http://example'];
    $.each(toExclude, function(key, value) {

    $("a[href='+value+']").replaceWith(function(){
        var url=value;
        var matches = url.match(/^https?\:\/\/([^\/?#]+)(?:[\/?#]|$)/i);
        var domain = matches && matches[1];
        return domain;
                });
            });
        });